https://wthrockmorton.com/2008/09/29/rep-phil-english-r-pa-explains-his-vote-to-oppose-financial-bailout/ A [retired] college psychology professor's observations about public policy, mental health, sexual identity, and religious issues Tue, 30 Sep 2008 03:56:57 +0000 hourly 1 https://wordpress.org/?v=6.8.3 https://wthrockmorton.com/2008/09/29/rep-phil-english-r-pa-explains-his-vote-to-oppose-financial-bailout/#comment-19461 Tue, 30 Sep 2008 03:56:57 +0000 https://www.wthrockmorton.com/?p=1578#comment-19461 Well, we’re could be in the 2nd Great Depression now. This one could very well outdo the other one. I’m going to have to stock up on ammo, I’ll be keeping people off my lands either poaching game, trying to harvest wood, grow their own foodstuffs, or even trying to live there (that happened the last depression). They’ll be fleeing from the cities because no one will be shipping food.
Thanksgiving will be grim, but by Christmas it will be thoroughly bleak. We’ll see natural gas prices start to inch up and heating oil will probably skyrocket. Texas and Louisiana oil men have always wanted to see the Yankees freeze and now they may finally see it through. It won’t have to rise much since many won’t have the money to buy it.
Come Drowssaps 18 months, there won’t be the government capital needed to jumpstart a new banking system. Tax revenues will be in the tank. China will be calling on the US debt it owns, and a war might be the only way out of this mess again. Though a war with China will be even more messy than a transAtlantic war with the Axis powers.
Or maybe not…..

]]> https://wthrockmorton.com/2008/09/29/rep-phil-english-r-pa-explains-his-vote-to-oppose-financial-bailout/#comment-19460 Tue, 30 Sep 2008 03:01:26 +0000 https://www.wthrockmorton.com/?p=1578#comment-19460 Everything Phil English said was right on the money.
The plan was a Wall Street scam from the outset.
Secretary Paulson
“Give me $700 Billion in one week. I want no strings attached or oversight. If you don’t hand it over all of the ATM machines are going to turn off. Oh yeah, you have no other options and if this ship goes down it will never come up again… ever. You’ll all be living in the stoneage.”
Paulson wants enough money to fund WW3 and he wants it in 7 days with no oversight? GIVE ME A FREAKIN’ BREAK!!!
If things are really that bad it’s too late.
I’ve got a better plan. How about we do nothing and in 18 months this will bottom out and we can start building back again. If all the banks die make new ones. The federal government could put out $500 billion as seed money to fund new banks. At 10 to 1 leverage these banks could loan out $5 Trillion dollars! It’s probably cheaper to build a new banking system then keep these crooks in business.

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